Sorta like how I have 'FbodFather' linked in my sig?
Highlight the text you want linked, then use the 'insert link' tool (
) and paste the address to your journal. That will replace the original text with a link yet maintain the text you've written. It should allow you do any style editing you like (such as keeping it in red) though when its made into a link it will be underlined.
Alternatively, you can just insert text into the link you have and delete the rest of it. This will only change the appearance of the link and not the actual coding of it. So it goes from this:
http://www.camaro5.com/forums/profil...=editsignature
then to
http://www.camaro5.com/fo to something like this rums/profile.php?do=editsignature
to finally
this.
However, this doesn't allow you as much freedom to change font/colour/size etc.